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Aflac AFL Aflac U.S. — Pretax adjusted earnings

Other segment segments

Aflac Japan
$741M-6.2%
Corporate and other
-$10M-150%

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Other financials

Income statement

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Revenue$4.1B-1.0%
Net income$825.0M+37.7%
EPS (diluted)$1.63+46.8%

Balance sheet

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Cash & equivalents$6.1B-12.1%
Total debt$8.8B-2.4%
Total equity$30.3B+11.4%
Total assets$115.96B-7.0%

Cash flow

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Operating cash flow$112.0M-71.9%

Valuation

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Market cap$61.13B+9.7%
Enterprise value$63.83B+10.5%
P/E12.6×-10.3×
P/S3.4×-0.1×

Profitability

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Net margin26.9%+11.6pp

Returns & leverage

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Return on equity16.9%+7.8pp
Debt / equity0.3×0.0×

Where this comes from

Reported directly by Aflac in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The source filing: Aflac’s 10-Q, filed August 7, 2026.

Filed
Aug 7, 2026, 9:18 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-054618
(In millions)Three Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Total adjusted expenses$3,122$3,338$6,243$6,534
Pretax earnings:
Aflac Japan (1)$741$790$1,500$1,512
Aflac U.S.370388733746
Corporate and other (2)(10)20(10)63
Pretax adjusted earnings1,1011,1982,2232,321
Other income (loss)000(53)
Net investment gains (losses)(153)(421)(104)(1,384)

Item 1. Financial Statements (Unaudited)

FAQ

What is Aflac's aflac U.S. — pretax adjusted earnings?
Aflac (AFL) reported aflac U.S. — pretax adjusted earnings of $370M in Q2 2026.
How has Aflac's aflac U.S. — pretax adjusted earnings changed year-over-year?
Aflac's aflac U.S. — pretax adjusted earnings decreased by 4.6% year-over-year, from $388M to $370M.
What is the long-term trend for Aflac's aflac U.S. — pretax adjusted earnings?
Over 4 years (2021 to 2025), Aflac's aflac U.S. — pretax adjusted earnings has grown at a 1.2% compound annual growth rate (CAGR), from $1.36B to $1.42B.
What does aflac U.S. — pretax adjusted earnings mean?
This metric measures the profitability of the U.S. insurance segment before income taxes, excluding non-recurring items or accounting adjustments that do not reflect core operational performance. It is a key indicator of the segment's underlying earnings power and its ability to generate profit from its core underwriting and investment activities. Investors use this to assess the segment's contribution to the overall corporate financial health.

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